Have the Problem with the Heating System? Here is the Solution!

Commonly many people will completely say that they love to spend their time in the home. But, if you have problem with your heating system, here we have furnace repairs Columbus for your heating system problem. The home is such a great place where we can spend most of our time with full of peace. If we feel so comfortable in our home, it means that we can find the peace. Maybe because you love your family and you also love to spend your time with them, you will completely feel that spending time with the family is very nice in the home.

Besides of creating the good atmosphere for the home, we also need to make sure that we can prepare for all of the house components so that we will feel so comfortable in the home. Checking all of the house components is the job of us since this is our own home. Actually, there are some important parts that we should pay attention much if we want to have the normal function of house components.

One of the most important for the house is the heating system for your home. When the winter comes, you need to make sure that you have the good condition of the heating system. If you do not have the good condition of the heating system, I am afraid that you will have such a bad winter. If your heating system is bad or broken, you do not need to be worried. The furnace repairs Columbus is such a great heating service that will make the good reparation of the heating system in your beloved home. They are very experienced in dealing with this kind of condition also. So, what are you waiting for any longer time?

Finding the Right Real Estate Agent

Picking the right real estate agent is an important decision and task. This person is either going to sell you our dream home or sell someone else the home you are in. You want to make sure they are up to the task. There are many, many real estate agents in most markets so you should do some research before selecting one.


If you are buying a house, you need to make sure this person totally understands what your budget is and what you are looking for in a home. The last thing you need is someone who constantly takes you to homes that are either just not your style, in your budget range or the neighborhoods you want to live in.


On the flip side, you need to know that they are going to really work to sell your home if that is what you are doing. Do they show many home? What is their success rate? What is their style in selling homes? Do they dress them up before a showing.


Get recommendations from friends and family but also look into references and their track record. Have they sold homes like yours before?


Doing your due diligence will make all the difference in dealing with any real estate agent.

Hiring office help so you can flip houses for profit

I began flipping houses for profit with a desk in my two bedroom apartment and a plastic file box. You know those plastic file boxes with a handle on them that you find at Office Max? That was what I was using to start building my empire.

I had a computer and a copy machine. I found early on that it was a real blessing to have a copy machine. I started with a low end one. Now Ive got a few of them. It was a real great piece of equipment to have. If you dont have one yet, get on it. They are needed in the real estate business.

I hired someone to do the administrative work because I felt my time was better spent working on the business. I wanted to be making offers on bank repo houses, going to seized property auctions, and working with private lenders. I believed that I needed to be concentrating on what needed to be done in order to run the business. My administrative assistant could work with Quick Books Pro. Contractors could rehab the properties. Other people could be picking up the other responsibilities. So, how do I hire my office help?

First, I run an ad in the paper for 10 days. I have the resumes faxed over and then I set up group interviews. I interview everybody all at once. What happens is the conventional wisdom says that if Im going to interview somebody I call you in for 30 minutes and have a 15 minute break and then I call you in and have a 15 minute break and then I call you in. Problem of it is you dont show and Im left twiddling my thumbs.

Going through the interview process is taking time away from my day. Remember, I want to be out making offers and finding repossessed homes for sale.

If I do it the conventional way, what happens if the interviewee doesnt show up? Now, when I bring someone in that does show up, dont I tell them the exact same thing I was going to tell the no show? Dont we say heres the company, heres the job, heres the pay, heres the vacation, heres the benefits over and over and over?

I dont do that and I dont think you should either. What I do is I bring everybody in at once. I interview 19 people at one time. How many times do I have to say the same stuff? I want to save time for them and save time for me. After that, I give them three minutes a piece to talk to me. Then I decide. I rate them and I decide whos coming back for the typical long interview.

So everybody gets here at the same time. Some people are going to pass. Some of these people probably knew they were going to pass right from the first two or three minutes. Yet they stick around out of courtesy for the whole half hour.
I would imagine that a lot of you reading this have gone through countless conventional interviews. But I have found its a lot better to get all the faces in front of you and once. I can tell my story one time.

I use a questionnaire with potential hires. I ask them how they deal with bosses or how they deal with other workers. I need to know what does and does not motivate them on the job. I ask them and find out.

By the time you go through this you get to know the person. Talk to them for a few minutes. Theyre going to decide whether theyre in or out. Maybe they wanted a bigger company. They see that its a very small office and not ideal for their needs. Some interviewees are seeing the set up and saying. “I love this.”

Tell the group about yourself. Tell them what your job duties are and your pay range. Tell them all at once about vacation, hours, benefits and lunch break.

Without question, I recommend that you have policies and procedures available so that they will have an idea of what your business is and how you want and expect it to be run.

Calgary Real Estate Agents-serving Various Home Purchasing And Selling Needs

Being known as the largest city of Alberta, Calgary has a lot to offer to their residents and, of course, to those who come here during the vacation. As a result, the prices of both residential and commercial properties are rapidly increasing with a fast pace. Therefore, now for anyone finding the potential property can become a notoriously difficult task. And, obviously, in an area where most of the accommodations are laid, you have to pay little extra money to purchase even a single flat or condo. To overcome such problems to a great extent it is wise for you to go through the list of the Calgary Real Estate Agents. Put simply, these professionals are fully dedicated to helping those who have a need to own a new home or want to sale their own home.

Obviously, the city houses a plethora of agents who are primarily concerned with helping the people get a new home or other kinds of property. You can find these experts working individually or offering real estate services to home seekers through a group of experts. These professionals are also a viable alternative to collect the relevant information on those properties that you are planning to buy in the coming time. You can also approach these experts if you are looking for the home seekers.

These days, more and more people are tending towards availing the services of the Calgary Real Estate Agents since these professionals have intense knowledge and experience in the real estate industry. These personalities also help you find the best lenders in case if you have a low budget and want to get a good amount of loan. With the help of these agents, you can also get a quick access to the advanced features of Multiple Listing Services (MLS), which has now become the Canadas reputed and biggest real estate network.

The Advantages Of Employing A Real Estate Agent

In the Utah vicinity, you may have noticed if looking for a new home that there is no shortage of homes available in the area. While absolutely options are great, they can be too much to handle when considering all the possibilities and being able to figure out exactly what you would like in the home. For this particular situation, dependable real estate agents can be hired that will be able to navigate these water more professionally, where they can sift through the alternatives and get you exactly what you would like as far as a home is concerned decreasing the time wasted looking at homes that are not ideal. Using a real estate agent can be good for many reasons which are listed below.

To start with, having a real estate agent working for you can ensure that youll only look at homes that fit your needs. Houses would have to be filtered out that do not match the needs of your family in order for the search to be successful. Regrettably, its likely that some of those properties will be ones that you actually view before realizing that they wouldnt work for you, which is essentially a waste of time. They would have the ability to ensure that any home you look at meets the specifications you have clearly defined with them since the real estate agent would be aware of what you need.

Another reason for hiring a real estate agent is because he or she can save you lots of time and energy that would otherwise go into your search for a house. When youre looking for a home yourself, theres a good chance that youll expound a lot of your energy doing things which arent necessary (like the aforementioned possibility of viewing homes that wont even work for you). Most of the busy work can be completed by an experienced real estate agent where they would only have you look at the dwellings that fit into the needs of the family members. Rather than stressing about going to numerous homes and inspecting them yourself, you can give attention to other things in life.

Working with a real estate agent will ensure all the essential paperwork and documentation is completed properly as well since they are well-informed in market and selling properties. Paperwork is without doubt one of the most overwhelming aspects of making any large investment, and because a home is likely the most expensive thing youll ever pay for, the paperwork can be absolutely overwhelming. The real estate agent can ensure that everything lines up as it should in your forms, securing everything prior to you signing something.

For sale in Utah are a variety of homes with plenty of features any number of people would like in a house they could raise kids in. Hiring a real estate agent can take a great deal of weight off of your shoulders when it comes to locating the perfect home and making sure that it satisfies every one of your needs. While buying a home can be annoying, the amount of stress you face can be dramatically higher if you try to do everything all by yourself, so if youre in this position, look into your options for a real estate agent before doing anything more.

Things that make property rental profitable

Property rental is one of the most profitable businesses nowadays especially if you are in Boston. To become a successful property owner, listed below are some things one should keep in mind.

The moment you decide to invest in real estate and buy a property for rental, you are bound to do a lot of work. As a first time real estate investor, you may find these tasks discouraging. However, if you were to look at the rising rental rates especially on rentals for luxury apartments Boston people are charging, you would definitely do the tasks as soon as you can. Below are some of those tasks you must do.

Do your homework even though there are many real estate agents available to help you in all your needs in purchasing a property, it is important that you will do your own research at first. There will be a tendency that you will be pressured with your agent and before you knew it, you had purchased a property that does not fit your need or want. When finding a property to buy, you must consider many things including the following:

* Price it is important that you will look for a property that is within your investment range.
* Neighborhoods quality neighborhoods influence the type of tenant you want to cater to. Obviously, wealthier neighborhoods will bring you better quality tenants, however properties in these areas are often very expensive and tenants have a tendency of being very demanding as to the quality and neatness of their building.
* Property Taxes be very aware of how much you will be losing due to taxes.
* Schools consider buying a property near quality schools if you want to attract families.
* Crime properties in a low crime rate area are highly desired, as they will attract better tenants and also lower your insurance costs.
* Jobs make sure your property is in a place with growing employment opportunities, rather than in an area where businesses are closing down every day.
* Surrounding amenities — it is important that there are parks, malls, gyms, theaters, and other attractions located within close proximity to the property you think of buying.

Get more information ask renters and owners in the area. Visiting the area in different hours of the day and on different days will give you the idea as to how the place would be like most of the time.

The type of property for beginners investing in a residential property like apartments or a condominium is usually the best option.

Finding a good rental property requires a lot of work. However, if you done all of it, you definitely have the potential to be one of those high earning apartments for rent Boston property owners.

How Facility Managers Help You Construct Your Facility

Construction of a commercial facility is a complex task. Overlooking a key building feature while constructing your facility may lead to huge operational costs after construction. Hence, in order to avoid mistakes and to construct an effective facility, it is always better to take help of the professionals in the field, such as facility managers.

You can benefit by outsourcing your construction activities to an experienced facility manager as he will have essential construction management skills. These skills include practical experience, familiarity with tools and techniques for planning, scheduling, and supervising and the ability to work with people. Facility managers perform various tasks to ensure quality construction. Some of them are listed below.

Construction planning
In order to build a perfect facility, proper planning before starting the construction process is essential. As part of construction planning, many things should be taken into consideration, such as initial estimates, design and constructability review, value engineering and cost saving analysis, project implementing plan, an organized cash flow schedule, team coordination, and prescheduled meetings with subcontractors and vendors. Hiring contact suppliers, skilled labor and artisans, etc. is also a part of construction planning process.

Before starting the construction process, an experienced facility manager works with you to determine your objectives and standards regarding the facility and prepares construction planning.

Computer-aided design
Facility managers work with architects and engineers to design plans that address your requirements and overall goals of your organization. To transform your ideas into reality, they work with computer-aided drafting technicians to create two and three dimensional drawings. Based on these technical drawings, they prepare specifications, order construction materials etc. to construct your facility.

Interior design
Though interior designing is taken up after the construction, it is certainly a part of construction process. With a clear idea about the purpose of the facility, facilities managers design internal elements in such a way that your facility offers better living and working environments for the inhabitants. They ensure that the interior items such as carpets, paintings, decorative items and office furniture are beautiful as well as economically and ergonomically perfect.

Space optimization
Space optimization is the most important part of construction process. It involves effective utilization of space with least wastage. It helps in maximizing the usable space available in your facility. Space can be optimized by properly designing the building layout. Well experienced facility managers develop and implement a design by aggressively looking out for reducing wastage of space during planning process.

Reduce construction debris
Facilities managers plan, design, and manage the equipment and supplies properly. They reduce construction debris by obtaining required raw materials and using them effectively. This task requires experience in the field of business administration, architecture, engineering and construction.

Integrate flexible installations
It is very important to install flexible and efficient systems to maximize performance and minimize energy costs of your facility. With experience and thorough approach, facility managers use systems and products of highest performance, quality and reliability. They tailor innovative and cost effective design solutions to suit your requirements.

Technology in safety, access and surveillance tools is advancing every day. Facility managers abreast with the latest developments, install security systems that meet environmental, health, and security standards. They check the compliance of construction norms with the federal and local laws. If required, they obtain clearances from appropriate agencies.

Minimize the cost
Using innovative design approaches, improved methodologies and new technologies, facility managers optimize the resources and reduce construction costs significantly. They make sure that all the necessary aspects of the construction process, right from land acquisition to escalations are completed within the budget, protecting the project against additional costs.

Once the project is executed, facility managers will hand over all warranties, project reports and maintenance information to you. So make sure that you approach a reputed facilities management company to get the services of a best facility manager.

Ten Reasons To Buy Hackney Property

Vibrant Hackney has undergone considerable regeneration in recent years and today Hackney property deservedly represents one of Londons brightest hotspots. To the delight of local estate agents Hackney was recently blessed with an underground extension to link more efficiently to the city, although there were always great bus services to nearby tube stations plus twelve over ground train stations. This high speed guide is going to give you just ten starter reasons to think about investing in Hackney property:

1. Hackney is Londons greenest borough, with 62 parks & open spaces and the largest football pitches in Europe at Hackney Marshes.

2. Hackney Marshes will be a site for the 2012 Summer Olympics and the Olympics effect benefits local house pricing.

3. The borough is now positively spoilt for transport links – there are frequent buses, those twelve train stations, an underground line and cycle lanes.

4. Hackney has undergone an incredible regeneration process, most recently with to new builds spring up alongside the arrival of the new tube station.

5. Many Hackney properties are listed buildings, meaning of historic importance, and they often come with original features. Look out for stunning conversions and beautiful Georgian or Victorian terraces.

6. To the joy of local estate agents Hackney is now teeming with highly sought after features such as balconies, open plan designs, brand new kitchens, Victorian garden flats, contemporary design patio gardens and more.

7. There are fantastic local restaurants plus the ever popular Broadway market. Families should be tempted by entertainment at The Hackney Empire, and days out at Hackney City Farm, The Museum of Childhood, the London Fields Lido and several ice rinks.

8. The Department for Children, Schools and Families has recently awarded Hackney council a whopping 170 million to spend on enhancements to local secondary school education.

9. Other local attractions include nearby Spitalfields market, the Rio art cinema, Dalston Kingsland Shopping Mall, the legendary Ridley Road and Columbia Rd Flower markets and the nightlife of Hoxton & Shoreditch to name but a few.

10. Locally youll also find plenty of excellent sports facilities and health clubs plus some very reputable complementary therapy centres.

Like any area of London, local knowledge is of paramount importance. Whilst there is no shortage of estate agents Hackney property can be of variable quality depending on who you team up with. The popularity of the area in some senses certainly doesnt help matters and you do need to be selective in your search. The best policy is to make sure they actually have a local office specialising in the area which has been established for a number of years. You will need their local expertise to advise you on different neighbourhoods, and to ensure that you are seeing the best possible properties within your specifications. There are indeed some local estate agents Hackney has journey right through the regeneration process with and often theyll have those long-standing local connections to be able to only show you the better homes.

Enjoying A Propane Fireplace In The Condominium Is Not Undoable Now

A fireplace is the solution for those who want to change the aspect of their home and warm up their living rooms during the cold and snowy nights of winter. Now you can also find fireplaces for apartments because manufacturers have adapted their offer to the needs and expectations of their clients.

If you do not plan to use your fireplace all the time, but make it a piece of interior decoration, instead, you should purchase an electric fire. On the other hand, people who are more likely to use their fireplace for rather functional than esthetical reasons, should resort to gas fires. Irrespective of the type of fireplace you choose, there are plenty of discounts available at the stores during these summer months, so it is worth making such a profitable investment.

You need not worry about gas fires maintenance as they are as easy to maintain as any other type of fireplaces. Producers have designed various models of fires in order to meet the tastes and the needs of their clients, therefore you may find traditional as well as contemporary and modern gas fires at specific stores.

Although setting up a fireplace makes the room more intimate and adds up to a more refined style, the process of building a fireplace is quite complex, starting from the change to the architecture of the room up to the materials and products used in the construction. Spending time in front of the fireplace becomes the perfect place for a family meeting of even a romantic one.

When deciding upon a fireplace, the available offer is unlimited; from gas fires, electric fires, flue less fires, wooden or natural fireplaces to electric or wood burning stoves. The choice for one type is mainly based on the construction constrains such as space or even on the style of the buyer.

The most recurrent problem people face whenever they decide to set up a fireplace in their home is the absence of a proper space to install it. This problem is no longer unsolvable now thanks to the portable gas fire models such as, the outset and the wall mounted gas fire which can be placed wherever the owner wants.

Many people resort to electric fires or other heating equipments because newly built houses in England do not have chimneys. They can, nevertheless, provide their homes with fireplaces as manufacturers have produced a model that does not require a chimney.

Thanks to the new models of gas fire, people who do not want to modify their houses by constructing a chimney can still have a fireplace. These models are endowed with special systems that filter the flue gas and turn it into breathable air or evacuate the toxic gas with the help of an electric fan.

Its time to give up your old stove in favor of a new gas fire as the latter is easier to maintain and it does not represent a danger for you or your family. Ensure a pleasant and safe atmosphere in your apartment and take advantage of gas fire discounts.

Advantages Of Modern Houses

What made houses popular in todays modern trends? A few years back, houses were known as one of the most unpopular types of housings in the Philippines in terms of providing the modern benefits that many modern Filipinos are looking for.

Today, however, there are many new residential Philippines properties for sale that can offer their residents modern benefits, and these types of new houses are mostly found around the outskirts of Metro Manila.

Advantages of Modern Houses
What made houses modern? Many new houses in todays modern trends are found not in residential districts, but are mostly around the outskirts of Metro Manila. Although not as advantageous compared to houses in terms of accessibility, these new houses can offer benefits which are mostly offered by other types of modern housings in the Philippines, such as condominium complexes.

More Family-Oriented Environment
Condominium complexes, though not found in business and commercial districts, are still known as one of the most popular and in-demand types of modern housings in the Philippines. Part of the reason why is that these types of housings aim to offer a suitable living space for modern Filipino families.

However, other than condominium complexes, there are also a number of housing communities in these locations that can also offer the same family-oriented environment that condominium complexes can offer to their residents.

Similar to condominium complexes, these new housing communities can also offer wide-open spaces for growing children to run and play, the same serene environment, as well as the same popular collection of amenities.

Luxurious Amenities
Another reason why condominium complexes became popular with is its collection of amenities such as swimming pools, gyms, recreational parks, playgrounds, as well as sports complexes. However, other than condominium complexes, many new housing communities are also known to offer their residents with with the same type of amenity. The difference, however, is that residential Philippines properties for sale available in these housing communities are far more affordable.

New Term of Payment
What made these new houses even more popular among many Filipinos is because of its new term of payment. Other than its affordability, these new residential Philippines properties for sale can also now be bought and paid in installment, making it more affordable compared to houses found in residential districts, as well as renting in apartment units.

Acknowledging The Facts About The Real Estate Investing Packages And Courses

Every real estate investors have a hardly any things in common. They are commonly not flying by the seat of their pants. There is a program to follow. {Today, we want to supply you with a simple, yet successful real estate investing program to kick start your victory as an investor.|It is our purpose to give you the essentials of real estate investing program

1) Educate You
Up to now in the evolution of real estate investing, there is no basis that learning shouldnt be number one on your listing. It is the basis and of the life and firm you want to guide in the future. Understand programs are all over are captilized on by the well-versed. There is no one questioning if this is right or wrong. How could you come first if you don’t understand your investment method? You cant. And if you dont you will love money.that is not the aim.

2) Network, Network, Network
You attend to it all the time in real estate it is about location. And when you can’t figure that out, just pay attention to the location. Well, this is right, but if you are leaving to be a upright real estate investor and follow a real estate investing program worth its power in salt, then you have to comprehend the essential importance of networking.

Networking is how you are going to find the best offers on the market. Through networking you are going to assemble the people you want to be successful. Networking is how you are going to find the cash compulsory to get your deals done. Remaining optimistic is going to happen by meeting people with upbeat people.

3) Drive
You have to have drive to be winning in any business. Deep-seated down inside, you must think that you are going to be successful.. Take action on your opportunities by taking the nessary steps.. Be resilent. Stick with your goals and dreams when others have fallen to the pavement. Success never comes to a quitter. Stay in the fight and keep your dream alive.

There is always another real estate investment list, but they are the foundation that a person can be flourishing with if they fix to it, prolong their knowledge and progress, while networking with the market place and studying all they can.

A Brief Description the Basic Types of Mortgage Loans

Conventional Mortgage – This mortgage, which is also known as a fixed-rate mortgage, is the one that is thought of when most people think about buying a home. These types of mortgages can run from 10 years to as much as 50 years, in some cases. They are completely amortized, or paid in full, at the end of the contract period.
In todays market most of these loans require between 20% to 30% cash down payment depending on the credit score of the borrower. Closing costs add to the amount of cash that a fixed-rate mortgage will require. Usually this will run about $3,000.00 to $5,000.00 for the average loan. This is above and beyond the down payment.

FHA Insured Mortgage – The FHA doesnt make loans or build houses. It only insures loans offered by private lenders. Mortgage insurance protects lenders against losses that result from defaults on home mortgages by the buyers. This insurance makes it possible for a buyer who cannot qualify for a conventional loan to still be able to buy a house or condominium. Townhouses and condos must be in a HUD approved complex to qualify for FHA insurance. Currently a little over one third of all home purchases in the U.S. are backed by an FHA loan.

The FHA loan programs normally require 3.5% down although in some cases a down payment as low as 0.0% can be worked out. Closing costs are quite low and in some cases no closing cost will be required. The maximum loan amount will vary and will depend on what state and county the property is located – check the FHA website to see the loan limitations for your state www.fha.gov .

A common misconception is that the FHA buyer assistance programs are only for first time buyers. This is not the case. Any prospective home buyer can use an FHA insured loan as long the buyer doesnt have a current FHA insured loan in their name. If they do have an FHA insured loan in their name that loan must have a Loan-to-Value (LTV) ratio of 75% or less. To find your LTV ratio divide the total amount of money that you owe on your home by the appraised value of your home.

A buyer can qualify for an FHA insured loan with a much lower credit score than a conventional loan requires. FHA rules governing credit scores state that any application made after October 4, 2010 where the applicant has a credit score of 580 or above is eligible for the maximum amount of FHA financing available. Borrowers with credit scores of 500 579 are eligible for 90% LTV.

VA Backed Mortgage – The main advantage for using this loan program is the 0.0% down payment that is required by the VA. It should be noted that the lender can require a down payment at his discretion. This determination is usually based on the borrowers credit score. A down payment can also be required if the loan is made with graduated payments or if the purchase price of the home is more than the reasonable value of the property as determined by the VA.

There are limitations on the amount of closing cost that the lender can charge. As this is subject to change please check the VA website, http://VA.Gov , for the current status.

Applicants with other than honorable discharges will usually require further investigation by the VA. This is necessary to determine if the separation from active duty was under other than dishonorable conditions. To see a complete list of eligibility requirements please check the VA web site.

Interest Only Mortgage – Labeling a mortgage as “Interest Only”, in most cases, is a misnomer. These loans are usually not really a loan in which the borrower only pays the interest and nothing more. “Interest Only” loans normally have a provision to let the borrower make an interest payment(s) at a specified time(s). There are some of these loans that let the borrower make only interest payments for the life of the loan and then require a balloon payment of the original loan amount at the end of the payment schedule. This type of mortgage is not a good option for most borrowers.

Adjustable-Rate Mortgage – There are many pitfalls to these types of home loans. With this loan the borrower does not know what the monthly house payment will be in the future. If interest rates go down the payment will go down but if rates go up so does the payment. As it is impossible to gage what interest rates will do over the life of a 30 year mortgage this is quite a gamble.

Just one example – A home bought for $300,000.00 on an ARM with a starting interest rate of 4% will have payments of about $1,432.25 per month to cover principal and interest. If the interest rate adjusted to 6.5% the payment would go up to $1,896.20 and if interest went to 9% that payment would jump to $2,413.86. Not many people can afford a $1,000.00 a month jump in house payments so be cautious of ARMs.

FHA 203K Program – When a borrower wants to purchase a house that needs repairs or modernization he/she will usually have to obtain financing first to purchase the home and then additional financing to do the repairs. They will then have to obtain a permanent mortgage when the work is completed to pay off the interim financing. Often this financing, the purchase and repair loans, can involve relatively high interest rates and short payoff periods.
The FHA 203(k) program was made to address this situation. The borrower can get one mortgage, at a long-term and competitive fixed rate, to finance both the purchase and rehabilitation of the property. To provide funds for the repairs, the mortgage amount is based on the projected value of the property with the repairs done and taking into consideration the cost of the work. This is a great program if the buyers are buying a “Fixer-Upper”, they want to make any special needs renovations or any other repairs or upgrades that the buyer requires or desires.

Specialty Type Mortgages

Combo or Piggyback Mortgage – This is actually 2 separate loans used to purchase 1 home. These are harder to come by in todays mortgage market. To pull off a piggyback mortgage package the borrower must have an excellent credit history. He/she will take out a 1st and 2nd mortgage on the property at the time of purchase. These mortgages can be conventional or ARM or a combination of both. One of the reasons to use a piggyback type mortgage program is to try and eliminate the requirement for mortgage insurance when the borrower has less that 20% down payment.

Equity or Second Mortgage – These are nothing more than a second or junior mortgage. They are in addition to an original mortgage and are in a lesser position. They use the equity in a home to secure a loan. These loans can be fixed rate, ARM or even a line of credit. To qualify for this type of loan most borrowers need to have equity in their home of a greater amount than the loan they are applying for.

Bridge or Swing Loan – These loans are used when a borrower wants to buy a home while an excising home is on the market but not yet sold. Equity in the borrowers current home is used to secure the bridge loan. This loan is typical paid off with proceeds from the sale of the current home.

Reverse Mortgage – These are available to anyone over the age of 62. The home owner must have enough equity in his house to meet the lenders requirements. These vary from lender to lender so the borrower will have to contact the lender to see if their home equity will meet the lenders requirements.

These are a mortgage where the lender makes monthly payment to the home owner as long as the home owner lives in the mortgaged home. The interest that is paid by the home owner can be fixed-rate or adjustable.

The advantage with this program is that, unlike a second mortgage, there is no payment due until you vacate the home or it is sold. The interest is only charged on the money you have received not a lump sum.

Interest rates on all these mortgage options are subject to rapid change and therefore are not quoted. Check with a lender, broker or agent to get the latest rates.

In general there are 3 basic types of dwellings that qualify for these mortgages. These are all Single Family Real Estate Homes (SFR) – they include Manufactured Homes (Mobile Homes), Condominiums or Townhouses and Public Urban Developments (PUD). It should be noted that to acquire a FHA or VA mortgage for a Condominium or Townhouse the Condo or Townhouse must be in a HUD approved complex or community.

This article was based on guidelines at the time this article was written January 12, 2012. Please check with the applicable agent or agency to ensure that they are still current before making any buying decisions.